The best country for business, according to Forbes, is New Zealand, followed by Denmark, Hong Kong, Singapore and Canada. Forbes based its ranking on 11 criteria for evaluating how friendly a country is to business. Slovenia fares 11th in trade freedom and 30th in monetary freedom. It is 48th in terms of property rights, 35th in innovation and 34th in terms of technology.

On the scale evaluating red tape, Slovenia ranks 26th, while coming in 17th in investor protection and 33rd on the corruption scale. It also ranks 51st in tax burden comparison and 70th in market performance.

In terms of personal freedom, Slovenia ranks at the top along with several countries.

Slovenia is the highest-ranking country of the former Yugoslavia in terms of its friendliness to business. It is followed by Macedonia in 37th, Montenegro in 45th and Croatia in 47th.

At the bottom of the global ranking are Venezuela, Zimbabwe, Chad and Guinea.